Glossary · Definition
Cross-Border Interbank Payment System (CIPS)
The Cross-Border Interbank Payment System, or CIPS, is China's network for clearing and settling payments in its own currency, the renminbi, between banks around the world.
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The full entry for Cross-Border Interbank Payment System (CIPS) covers the detailed definition, how it works, an example and the mistakes beginners make.
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